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Is this a bad idea?

07 Jun

I have a Sony Visa from chase but I am really interested in applying for a chase freedom master card with 3% cash back. Is it a bad idea to have 2 credit cards from the same bank? would it affect the credit cards credit limit?

 
8 Comments

Posted in Visa Cash Back Credit Cards

 

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  1. Ryan L

    June 7, 2010 at 1:33 am

    does not matter

     

  2. ABE

    June 7, 2010 at 2:18 am

    naw it wouldnt affect it…
    im doin tha same crap its all good…
    juss dont get urselve into bad credit..

    —BIG POPPA

     

  3. Diana G

    June 7, 2010 at 3:02 am

    Yes Yes Yes And 1,000,000 more Yeses!!!

     

  4. xXxEunichornxXx

    June 7, 2010 at 3:17 am

    yes it is a bad idea.

     

  5. sam135

    June 7, 2010 at 3:49 am

    ummmm i dont think so

     

  6. shouldbdoc

    June 7, 2010 at 4:29 am

    You could apply for the chase freedom card and when that gets approved, you could close the sony visa and combine the credit limits. That’s how some banks work. If I were you, I would call Chase and speak to a rep there. They could tell you if you should keep both or combine credit limits.

     

  7. Big Deal Maker

    June 7, 2010 at 4:49 am

    It is not a fantastic idea to get involved into any type of credit card.
    If you make minimum payments on a $1000.00 credit card. It will take you 20 years to pay it off and the cost would be about $1235.00 in interest give or take a bit. Plus the initial $1000.00

     

  8. tudorjason (matt)

    June 7, 2010 at 4:52 am

    It is not bad to have more than one credit card from a lender. But, your actions on one can affect the other. For example, if you go over your limit or your payment is late on your Sony Visa, your lender has every right to increase the interest rate on the Freedom Mastercard. It’s called universal default. This can happen from one creditor acting on an account based another account from another lender, or the same lender. Just be careful and disciplined.